Page 2967 - Week 10 - Thursday, 15 August 1991
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MINISTER FOR THE ENVIRONMENT, LAND AND PLANNING
LEGISLATIVE ASSEMBLY QUESTION
QUESTION NO 467
Residential Land Prices
Mr Kaine - asked the Minister for the Environment, Land and Planning -
(1) Has the Ministers attention been drawn to comments made by Mr Langmore that "the narrowness of the market gives (private developers) the capacity to manipulate land prices to their advantage".
(2) Does the Minister have any evidence to support this claim.
Mr Wood - the answer to the Members question is as follows:
(1) Yes.
(2) The evidence to date is. that since private sector land
development commenced land prices in the ACT have been
competitive.
To cater for the lower end of the market including the first home buyer market, the Government has joined with the industry associations in a number of joint venture developments.
These have provided both land and house and land packages at very affordable prices in todays market.
Through the Land Development Program the ACT Government offers sufficient land at .each auction to ensure strong competition within the market place.
No doubt.members are aware of the advertisements by individual developers appearing in the media recently for Gungahlin land which demonstrates the competitive nature-of the industry.
The return of the Government to land development will ensure highly competitive prices.
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